ZIP 46035 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46035 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$890Efficiency

$9001 bedroom

$1,1202 bedrooms

$1,4803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$1,187
1 bedroom	$900	$810	$990	$1,336
2 bedrooms	$1,120	$1,008	$1,232	$1,536
3 bedrooms	$1,480	$1,332	$1,628	$1,991
4 bedrooms	$1,560	$1,404	$1,716	$2,425

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Clinton County, IN

$890Efficiency

$9001 bedroom

$1,1202 bedrooms

$1,4803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$850
1 bedroom	$900	$810	$990	$855
2 bedrooms	$1,120	$1,008	$1,232	$1,063
3 bedrooms	$1,480	$1,332	$1,628	$1,416
4 bedrooms	$1,560	$1,404	$1,716	$1,445

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Montgomery County, IN

$890Efficiency

$9001 bedroom

$1,1202 bedrooms

$1,4803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$895
1 bedroom	$900	$810	$990	$900
2 bedrooms	$1,120	$1,008	$1,232	$1,046
3 bedrooms	$1,480	$1,332	$1,628	$1,351
4 bedrooms	$1,560	$1,404	$1,716	$1,459

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 46035

$57,897average adjusted gross income per tax return (2022)

$45,247average salaries and wages per return

600tax returns filed

23%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	28.3%
$25,000 to $50,000	21.7%
$50,000 to $75,000	21.7%
$75,000 to $100,000	11.7%
$100,000 to $200,000	16.7%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 13.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46035?

HUD's FY2027 Small Area FMRs for ZIP 46035 (Indianapolis-Carmel, IN) are $890 efficiency, $900 one bedroom, $1,120 two bedrooms, $1,480 three and $1,560 four bedrooms.

What payment standard can a housing authority set in ZIP 46035?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,008 to $1,232.

How affordable is rent in ZIP 46035?

Tax returns filed from ZIP 46035 reported an average adjusted gross income of $57,897 (2022). A two-bedroom unit at the Small Area FMR costs $13,440 a year, or 23% of that income.